Company overview
Altus Midstream (ALTM) is a midstream company with a C-Corp structure. This structure avoids the typical IDR overhang (incentive distribution rights give a General Partner an increasing share of the distributions), common in MLPs. The company was founded in November 2018 by Apache (APA), which is the majority stakeholder with 71 % ownership and Kayne Anderson (KYN). At first the company's assets were comprised of Apache's Alpine High gathering and processing assets and options to acquire stakes in 5 pipelines.
Since going public, the share price has